Saudi Industrial Center mulls $10.66bn worth of projects

29/11/20

The Kingdom’s industrial strategy aimed at enhancing the target business segments, and attracting top-notch industrial investments over the coming years, which will boost the sources of the non-oil income. (Shutterstock)

The National Industrial Development Center (NIDC), in cooperation with the the Ministry of Industry and Mineral Resources, is studying the development of more than SAR 40 billion ($10.66 billion) worth of industrial projects in target business divisions, Al Eqtisadiah newspaper reported, citing Chief Executive Officer Nizar Y. Al-Hariri.

These investment opportunities include the development of a combined zinc-lead-copper smelting facility, alumina refinery, phosphorus production facility, local tuna processing facility, in addition to manufacturing dialysis machines, vial injectors, as well as vaccines.

The Kingdom’s industrial strategy aimed at enhancing the target business segments, and attracting top-notch industrial investments over the coming years, which will boost the sources of the non-oil income and provide job opportunities, the CEO said.

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